More Retail's Bold Expansion: IPO and Beyond
More Retail, supported by Amazon and Samara Capital, plans a Rs 2,000 crore IPO by 2026. The funds will support store expansion from 1,100 to 3,000 by 2030 and aim for near debt-free status. The focus is on expanding into smaller towns, strengthening ties with Amazon Fresh, and seeking profitability.
- Country:
- India
In a strategic move to boost growth, More Retail, backed by giants Amazon and Samara Capital, is gearing up for an IPO worth approximately Rs 2,000 crore. Scheduled to launch in 2026, the IPO will focus on fresh capital infusion without significant share offloads from existing stakeholders.
The capital raised will primarily fuel More Retail's ambitious plans to expand its store network, aiming to reach 3,000 outlets by 2030 and significantly reduce its current debt of Rs 500 crore. The leadership under Managing Director Vinod Nambiar emphasizes the long-term commitment of its prominent investors, highlighting previous substantial financial infusions.
The retail chain, known for its aggressive market expansion, aims to elevate its operational efficiency and profitability. As partnerships with Amazon Fresh deepen, the company's presence across online and hybrid platforms is set to grow, with a particular focus on increasing its footprint in smaller towns.
(With inputs from agencies.)
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